Quarterly results

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Google reports 12th consecutive quarter of strong revenue gains

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Better-than-expected results come despite delays in release of powerful AI model Gemini ProGoogle’s parent company, Alphabet, reported double-digit revenue growth for its second-quarter earnings on Wednesday. This is the tech giant’s 12th consecutive quarter of massive revenue gains.The better-than-expected results come as investors evaluate how Alphabet’s huge spending on AI has affected its bottom line […]

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Nvidia’s revenue blows past Wall Street expectations as AI boom accelerates

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Many analysts view company’s financial performance as a broader referendum on AI buildoutNvidia continued its years-long streak of beating Wall Street’s expectations for growth on Wednesday, reassuring most investors that the AI boom, particularly the global explosion of datacenters, will continue apace.“The buildout of AI factories – the largest infrastructure expansion in human history –

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Tesla reports mixed financial results as Musk pivots automaker to AI and robots

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Figures fail to significantly buoy stock as firm admits ‘significant effort and hard work’ needed to achieve goalsTesla reported its first-quarter earnings on Wednesday, disclosing some better-than-expected results but faltering in some key areas. The report failed to significantly buoy Tesla’s stock, which has limped along this year while its CEO, Elon Musk, has tried

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Co-founder Reed Hastings to step down from Netflix board

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Chair’s decision to not seek re-election in June ‘not as a result of any disagreement’, company says in SEC filingReed Hastings, the Netflix chair, is leaving the streaming service he co-founded 29 years ago as the company regains its footing after it lost its $72bn deal for Warner Bros Discovery.In a letter to investors released

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Nvidia quarterly earnings show immunity to AI bubble fears as it cashes in on data center boom

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Chipmaker’s quarterly earnings surpassed Wall Street’s expectations every quarter for multiple years nowNvidia released its quarterly earnings on Wednesday, with the chipmaker revealing higher than expected revenues that buoyed its stock in after-hours trading, extending its yearslong streak of surpassing Wall Street’s sky-high expectations.The company receives the vast majority of its revenue from its data

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Google parent earnings beat projections amid plans to invest deeply in AI

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Alphabet reports $34.5bn profit and revenue soars 48% in recent quarter as it plans a sharp increase in AI spendingGoogle’s parent company, Alphabet, beat Wall Street expectations on Wednesday, and is planning a sharp increase in capital spending in 2026 as it continues to invest deeply in AI infrastructure.Alphabet on Wednesday reported profit of $34.5bn

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Big tech results show investor demand for payoffs from heavy AI spending

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Meta wowed Wall Street with improvements in ad targeting fueled by AI alongside huge investment. Microsoft had less to show for its billions spentBig tech earnings so far this week have sent a clear warning: investors are willing to overlook soaring spending on artificial intelligence if it fuels strong growth, but are quick to punish

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Tesla discontinues Model X and S vehicles as Elon Musk pivots to robotics

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High hopes for Optimus robot help company beat forecasts despite yearly revenue decline and flailing car businessIn the clearest sign yet that Tesla is pivoting away from its electric car business, CEO Elon Musk announced on Wednesday’s investor call that the company would discontinue production of its Model X SUV and Model S full-size sedan.“It’s

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Microsoft shrugs off AI bubble fears again with strong financial results

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Company reports second-quarter revenues of $81.27bn but posts slowing growth in key cloud computing businessInvestor interest in Microsoft’s shares may have weakened in recent months, but the company posted strong financial results on Wednesday that yet again demonstrated that the AI boom is roaring on.Microsoft reported earnings for the second quarter of fiscal year that

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